- Yi: +5.3
- A probable bottom in this area for: $USD
- Moderately oversold now: BAC
- Trying to hold some rising trendline support: EWJ, IFN, RAIL
- Attempting to hold the 65 DMA here: CTB
- Attempting to hold the 28 day: WFC
- Up against rising trendline resistance: PEP and TSL
- Up against falling trendline resistance: ABX, B, C, NAT
- Up against the 65 DMA here: BBT, STX, WHR, X
- Moderately overbought now: $XOI, AMSC, BA, CBK, IDA, OCR, PBY, SWK, TSM, XOP
- Standard overbought: IWM, JCP, LPL, LUFK, PTEN, ROK, SPWRA, TLB
- Extremely overbought: JASO
- Toppy here: FSLR, GLD, GPC, IRF, IWM, JCP, LDK, NST, NWL, SLW, TKR, USB
- A possible top here for: $GOLD, COST, EEFT, MSCC, QLD
- A probable top here for: CAT and SLV
- A break out in either direction is on the way for: ACAS
- Anything posted here may be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
No comments:
Post a Comment